NVIDIA Corporation Stock News and Headlines

NVDA Stock Price Surges Past $1,000

The stock of NVIDIA Corporation (NVDA) closed at $1,224.40 on Wednesday, making it one of only 11 companies in the S&P 500 with a share price over $1,000. The stock has been on a steady upward trend in recent months, driven by strong demand for the company's graphics processing units (GPUs).

Strong Earnings Report

The recent surge in NVDA stock price was likely fueled by the company's strong fourth-quarter earnings report. The company reported revenue of $7.64 billion, up 53% year-over-year. Net income came in at $2.56 billion, up 106% year-over-year. The company's earnings per share beat analyst expectations by $0.14.

Positive Outlook

NVIDIA also provided a positive outlook for the future. The company expects revenue to grow in the mid-teens percentage range in the first quarter of fiscal 2023. The company also announced a new $40 billion stock buyback program.

Conclusion

The strong earnings report and positive outlook have investors bullish on NVDA stock. The stock is up over 100% in the past year, and it shows no signs of slowing down. Investors who are looking for a growth stock with a strong track record and a bright future should consider adding NVDA to their portfolio.